The ONS released its public finance figures for January showing that although overall receipts are up 6.2%, in part due to large corporate tax payments this month, Self Assessment (SA) receipts are actually down. The government ending up with its highest monthly surplus in four years which would seem to suggest that the economy is doing rather better than the doom-mongers of the press would have us believe.
These latest tax figures would seem to suggest that the 50p tax rate is not having the effect that was planned by the previous Labour government.
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